Company registration number 07398399 (England and Wales)
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
COMPANY INFORMATION
Directors
KA Cunningham
CA Fogarty
L Harris
PR Hepburn
Secretary
Resolis Limited
Company number
07398399
Registered office
1 Park Row
Leeds
United Kingdom
LS1 5AB
Auditor
Johnston Carmichael LLP
7-11 Melville Street
Edinburgh
EH3 7PE
Bankers
The Co-Operative Bank
3rd Floor Department 20107
PO Box 101
1 Balloon Street
Manchester
M60 E4P
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
CONTENTS
Page
Directors' report
1 - 2
Directors' responsibilities statement
3
Independent auditors' report
4 - 7
Statement of comprehensive income
8
Balance sheet
9
Statement of changes in equity
10
Notes to the financial statements
11 - 17
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 1 -
The directors present their annual report and financial statements for the year ended 30 September 2023.
Principal activities
The Company's business is primarily providing management services to Environments for Learning St Helens PFI Limited which has built and now operates an educational establishment in St Helens.
There have not been any changes in the Company's activities in the year under review, and the directors are not aware, at the date of this report, of any changes in activity for the foreseeable future.
Results and dividends
The results of the Company are as set out in the statement of comprehensive income on page 8.
The total distribution of dividends in the year ended 30 September 2023 was £nil (2022: £10,331).
Directors
The directors who held office during the year and up to the date of signature of the financial statements were as follows:
KA Cunningham
CA Fogarty
L Harris
PR Hepburn
The directors holdings office at 30 September 2023 did not hold any beneficial interest in the Ordinary Shares of the Company at 1 October 2022 or 30 September 2023.
Qualifying third party indemnity provisions
The company has made qualifying third party indemnity provisions for the benefit of its directors during the year. These provisions remain in force at the reporting date.
Auditor
The auditor, Johnston Carmichael LLP, is deemed to be reappointed under section 487(2) of the Companies Act 2006.
Statement of disclosure to auditor
Each of the persons who is a director at the date of approval of this report confirms that:
so far as the director is aware, there is no relevant audit information of which the Company's auditor is unaware; and
the director has taken all the steps that he/she ought to have taken as a director in order to make himself/ herself aware of any relevant audit information and to establish that the Company's auditor is aware of that information.
This confirmation is given and should be interpreted in accordance with the provisions of Section 418 of the Companies Act 2006.
Small companies exemption
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 2 -
On behalf of the board
KA Cunningham
Director
12 March 2024
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
DIRECTORS' RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 3 -
The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.
Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:
select suitable accounting policies and then apply them consistently;
make judgements and accounting estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company’s transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
INDEPENDENT AUDITORS' REPORT
TO THE MEMBERS OF ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
- 4 -
Opinion
We have audited the financial statements of Environments for Learning St Helens Partnership Limited (the 'company') for the year ended 30 September 2023 which comprise the statement of comprehensive income, balance sheet, statement of changes in equity and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements:
Give a true and fair view of the state of the company's affairs as at 30 September 2023 and of its loss for the year then ended;
Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
Have been prepared in accordance with the requirements of the Companies Act 2006.
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
The other information comprises the information included in the annual report other than the financial statements and our auditors' report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of our audit:
The information given in the directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
The directors' report has been prepared in accordance with applicable legal requirements.
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE MEMBERS OF ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
- 5 -
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:
Adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
The financial statements are not in agreement with the accounting records and returns; or
Certain disclosures of directors' remuneration specified by law are not made; or
We have not received all the information and explanations we require for our audit.
The directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and take advantage of the small companies exemption from the requirement to prepare a strategic report.
Responsibilities of directors
As explained more fully in the directors' responsibilities statement set out on page 3, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.
Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Extent the audit was considered capable of detecting irregularities, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.
We assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations by considering their experience, past performance and support available.
All engagement team members were briefed on relevant identified laws and regulations and potential fraud risks at the planning stage of the audit. Engagement team members were reminded to remain alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE MEMBERS OF ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
- 6 -
We obtained an understanding of the legal and regulatory frameworks that are applicable to company and the sector in which it operates, focusing on provisions that had a direct effect on the determination of material amounts and disclosures in the financial statements. The most relevant frameworks we identified include:
We gained an understanding of how the company is complying with these laws and regulations by making enquiries of management and those charged with governance. We corroborated these enquiries through our review of relevant correspondence with regulatory bodies and board meeting minutes.
We assessed the susceptibility of the financial statements to material misstatement, including how fraud might occur, by meeting with management and those charged with governance to understand where it was considered there was susceptibility to fraud. This evaluation also considered how management and those charged with governance were remunerated and whether this provided an incentive for fraudulent activity. We considered the overall control environment and how management and those charged with governance oversee the implementation and operation of controls. We identified a heightened fraud risk in relation to:
In addition to the above, the following procedures were performed to provide reasonable assurance that the financial statements were free of material fraud or error:
Agreeing a sample of months' income receipts to invoice and bank statements;
Reviewing minutes of meetings of those charged with governance for reference to: breaches of laws and regulation or for any indication of any potential litigation and claims; and events or conditions that could indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud;
Reviewing the level of and reasoning behind the company’s procurement of legal and professional services;
Performing audit work procedures over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing judgements made by management in their calculation of accounting estimates for potential management bias;
Completion of appropriate checklists and use of our experience to assess the company's compliance with the Companies Act 2006; and
Agreement of the financial statement disclosures to supporting documentation.
Our audit procedures were designed to respond to the risk of material misstatements in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve intentional concealment, forgery, collusion, omission or misrepresentation. There are inherent limitations in the audit procedures performed and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
INDEPENDENT AUDITORS' REPORT (CONTINUED)
TO THE MEMBERS OF ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
- 7 -
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
Grant Roger
Senior Statutory Auditor
For and on behalf of Johnston Carmichael LLP
12 March 2024
Chartered Accountants
Statutory Auditor
7-11 Melville Street
Edinburgh
EH3 7PE
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 8 -
2023
2022
Notes
£000
£000
Turnover
3
171
178
Cost of sales
(27)
Gross profit
171
151
Administrative expenses
(184)
(152)
Operating loss
4
(13)
(1)
Income from shares in group undertakings
3
10
Interest receivable from group undertakings
3
33
33
Other interest payable and similar expenses
6
(33)
(33)
(Loss)/profit before taxation
(13)
9
Tax on (loss)/profit
(Loss)/profit for the financial year
(13)
9
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
BALANCE SHEET
AS AT
30 SEPTEMBER 2023
30 September 2023
- 9 -
2023
2022
Notes
£000
£000
£000
£000
Fixed assets
Investments
7
254
254
Current assets
Debtors
9
34
2
Cash at bank and in hand
60
83
94
85
Creditors: amounts falling due within one year
10
(104)
(77)
Net current (liabilities)/assets
(10)
8
Total assets less current liabilities
244
262
Creditors: amounts falling due after more than one year
11
(239)
(244)
Net assets
5
18
Capital and reserves
Called up share capital
12
1
1
Profit and loss reserves
4
17
Total equity
5
18
The notes on pages 11 to 17 form part of the financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 12 March 2024 and are signed on its behalf by:
KA Cunningham
Director
Company Registration No. 07398399
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 10 -
Share capital
Profit and loss reserves
Total
Notes
£000
£000
£000
Balance at 1 October 2021
1
18
19
Year ended 30 September 2022:
Profit and total comprehensive income for the year
-
9
9
Dividends
-
(10)
(10)
Balance at 30 September 2022
1
17
18
Year ended 30 September 2023:
Loss and total comprehensive income for the year
-
(13)
(13)
Balance at 30 September 2023
1
4
5
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 11 -
1
Accounting policies
Company information
Environments for Learning St Helens Partnership Limited is a private company, limited by shares, registered and incorporated in England and Wales. The Company's registered number and registered office address can be found on the Company Information page.
The financial statements are prepared in sterling, which is the functional currency of the company.
Monetary amounts in these financial statements are rounded to the nearest £000.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The financial statements have been prepared under the historical cost convention.
Consolidation
These financial statements present information about the above company alone and not of a group. Consolidated financial statements have not been prepared as provided by section 400 of the Companies Act 2006. Copies of the financial statements of Environments for Learning Limited which is the smallest company in which results of the group are consolidated, are available from the registered office of 1 Park Road, Leeds, United Kingdom, LS1 5AB, for the year ending 30 September 2023.
1.2
Going concern
The directors have prepared forecasts for 24 months after the year end based on contracts in place with Environments for Learning St Helens PFI Limited (the 'Project Company') and other existing expenditure. These indicate that the Company will be profitable and will have sufficient cash resources to meet its liabilities as they fall due. Therefore, the directors, having considered the financial position of the Company and its expected future cash flows, which incorporate the payments on the Company's investment have prepared thetrue
financial statements on a going concern basis. The directors confirm that they do not intend to liquidate the Company or cease trading as we consider we have realistic alternatives to doing so.
The directors confirm the completeness of the information provided regarding events and conditions relating to going concern at the date of approval of the financial statements, including plans for future actions.
1.3
Revenue recognition
(a) Service contracts
Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable.
(b) Construction contracts
Revenue is recognised once the works have been certified by the end client and costs are recognised by the stage in completion.
(c) Interest
Interest income is recognised when it is probable that the economic benefits will flow to the company and the amount of revenue can be measured reliably. Interest is accrued on a time basis by reference to the principal outstanding and the effective interest rate.
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 12 -
1.4
Fixed asset investments
Investments in subsidiary is held at the cost of the shares and face value of the loan less any provision for impairment in value.
1.5
Cash and cash equivalents
Cash Investments are stated at cost excluding any accrued interest and with no provision for impairment in value.
1.6
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances are initially measured at transaction price including transaction costs and are subsequently carried at amortised costs using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate interest.
Loans and receivables
Trade debtors and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.
Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of the interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to net carrying amount on initial recognition.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfers the financial asset and substantially all the risks and rewards of ownership to another entity.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting its liabilities.
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
1
Accounting policies
(Continued)
- 13 -
Basic financial liabilities
Basic financial liabilities, including trade and other payables and loans from fellow group companies are classified as debt, and initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate interest.
Trade payable are obligations to pay for goods or services that have been acquired in the ordinary course of the business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are present as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Derecognition of financial liabilities
Financial liabilities are derecognised when, and only when, the obligation specified in the contract is discharged, cancelled, or expires.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
Current tax, including UK corporation tax, is provided at amounts expected to be paid using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.
Deferred tax
Deferred tax is provided in full on timing differences which result in an obligation at the statement of financial position date to pay more tax, or a right to pay less tax, at a future date, at rates expected to apply when they crystallise based on current tax rates and law. Timing differences arise from the inclusion of items or income and expenditure in taxation computations in periods different from those in which they are included in the financial statements. Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be recovered. Deferred tax assets and liabilities are not discounted.
Where items recognised in other comprehensive income or equity are chargeable to or deductible for tax purposes, the resulting current or deferred tax expense or income is presented in the same component of comprehensive income or equity as the transaction or other event that resulted in the tax expense or income.
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 14 -
2
Judgements and key sources of estimation uncertainty
The preparation of the financial statements in conformity with FRS 102 requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets, liabilities, income and expenses. The estimates and associated assumptions are based upon historical experience and various other factors that are believed to be reasonable under the circumstances, the result of which form the basis of making judgements about carrying values of assets and liabilities that are not readily available from other sources. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period or in the period of revision and future periods if the revision affects both current and future periods.
The recoverability of loan receivable was identified as a critical judgement for this Company. The only key source of estimation uncertainty that was identified was the investment valuation.
Financial assets are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in profit or loss.
3
Turnover and other revenue
The turnover and profit before taxation are attributable to the one principal activity of the Company.
2023
2022
£000
£000
Turnover analysed by class of business
Turnover from services
171
148
Turnover from construction
30
171
178
2023
2022
£000
£000
Other significant revenue
Interest income
33
33
Dividends received
10
Turnover, which is stated net of value added tax, represents amounts invoiced for services provided, and is recognised each year as the applicable portions of the amounts receivable relating to finance and operating costs calculated on a consistent basis (see accounting policies).
Turnover is attributable to one geographical market, the United Kingdom.
4
Operating loss
2023
2022
Operating loss for the year is stated after charging:
£000
£000
Fees payable to the Company's auditor for the audit of the Company's financial statements
32
29
Taxation advisory services
9
8
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
4
Operating loss
(Continued)
- 15 -
Audit services include the audit of the Company's annual financial statements, and Environments for Learning St Helens Holdco Limited, Environments for Learning St Helens PFI Limited and Environments for Learning St Helens PSP Limited.
5
Employees
The Company had no employees (2022: nil) during the year other than the directors. Emoluments paid to third parties for directors' services to the Company were: £19,098 (2022: £10,774).
6
Interest payable and similar expenses
2023
2022
£000
£000
Amount payable to group undertakings
33
33
7
Fixed asset investments
2023
2022
£000
£000
Loans to group undertakings and participating interests
254
254
All subsidiary companies are incorporated in the United Kingdom.
The subordinated loan made to subsidiary bears interest at a fixed rate of 12.5% and is repayable in instalments between 2013 and 2038. No repayment was made during the year ended 30 September 2023.
8
Subsidiaries
Details of the company's subsidiaries at 30 September 2023 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Environments for Learning St Helens Holdco Limited
1 Park Row, Leeds, United Kingdom, LS1 5AB
Direct
10.00
Environments for Learning St Helens PFI Limited
1 Park Row, Leeds, United Kingdom, LS1 5AB
Indirect
10.00
9
Debtors
2023
2022
Amounts falling due within one year:
£000
£000
Accrued income
33
-
Other debtors
1
2
34
2
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 16 -
10
Creditors: amounts falling due within one year
2023
2022
£000
£000
Subordinated loan
15
9
Taxation and social security
1
Accruals
88
68
104
77
11
Creditors: amounts falling due after more than one year
2023
2022
£000
£000
Subordinated loan
239
244
The subordinated loan made from shareholders bears interest at a fixed rate of 12.5% and is repayable in instalments between 2013 and 2038.
Amounts included in creditors which fall due after five years are as follows:
2023
2022
£000
£000
Payable by instalments
230
236
12
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary A of £1 each
100
100
100
100
Ordinary B of £1 each
900
900
900
900
1,000
1,000
1,000
1,000
On incorporation 1,000 ordinary shares were issued at £1 each. All classes of shares carry no right to fixed income and rank pari passu.
ENVIRONMENTS FOR LEARNING ST HELENS PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2023
- 17 -
13
Related party transactions
The Company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.
Dalmore Capital Limited (shareholder)
2023
2022
£000
£000
Services
23
9
St Helens Borough Council (shareholder)
2023
2022
£000
£000
Dividends
-
1
Subordinated debt and interest
3
3
Information technology and other services
-
(36)
Subordinated debt and interest amount payable
29
25
14
Parent company
The Company is majority owned by Environments for Learning St Helens PSP Limited, a company which is registered in England and having the same registered office as the Company. In the opinion of the Directors, there is no ultimate controlling party.
The smallest and largest group in which the Company’s results are consolidated is Environments for Learning Limited, a company registered in England. Copies of the consolidated accounts are available from Companies House.
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